Desert condos stats:
Per the MLS, 260 condos were sold from during the month of June 2013 in Palm Springs, Palm Desert, Rancho Mirage, Indian Wells, and La Quinta. The sold prices ranged from a low of $50,000 for a 1 bedroom in Palm Springs, to $795,000 for a 3 bedroom at the Indian Wells Country Club.
As of June 1st, there were only 2812 total (single family homes and condominiums) active listings and 4,885 listings sold in the last six months in our desert resort cities . . . very low inventory. Our average sales price has increased by more than 16% in the past 12 months; in specific cities within the desert, the results for the past 12 months are as follows:
Rancho Mirage List price increase of 14%/sold price increase of 32%
Palm Desert List price increase of 12%/sold price increase of 4.5%
Palm Springs List price increase of 13%/sold price increase of 28.8%
La Quinta List price increase of 7.6%/sold price increase of 2.2%